Green Lumens and SparkFund launch LED-as-a-service partnership

Pay-as-you-go solution opens up efficient LED lighting solutions for large-portfolio customers

WASHINGTON DC – Green Lumens LLC, a leading turnkey solution provider of efficient LED lighting products and retrofit services to commercial and industrial property owners, has announced a unique “lighting as-a-service” national partnership with SparkFund, a financial technology company providing integrated financing solutions for clean and efficient energy projects. The partnership will eliminate up-front costs through a no-money-down approach and simplify the LED retrofit process by turning project purchases from a capital expenditure into an operating expense.

The Green Lumens-SparkFund partnership will debut with an LED retrofit project at Perimeter Place, a multi-tenant office complex in suburban Atlanta. The six figure high-efficiency LED light retrofit will be funded with a “bumper to bumper” service plan including a 60 month operating lease with no money down, and will save $61,923 annually while preventing 11,100 pounds of carbon dioxide emissions per year. Perimeter Place will realize a net positive cash flow of nearly $2,000 each month through the project from day one.

”“We are excited to partner with SparkFund to offer our property owning clients creative and competitive financing options to accelerate and expand their conversion to cost savings and energy efficient LED retrofit solutions,” said Lonnie Chenkin, Green Lumens Executive Vice President of Business Development. “This unique ‘as a service’ financing model allows our clients to upgrade their facilities, reduce their operating expenses and lower their carbon footprint, which in most cases are paid for from the operating savings generated from the retrofit.”

The partnership will combine Green Lumens’ strength as an designer, original equipment manufacturer, and turnkey service provider of efficient LED products with SparkFund’s all-inclusive financing solutions to tap the growing market of energy efficiency projects for large portfolio customers including universities, retail, restaurants, hospitals, multi-tenant buildings, and municipalities. Projects will be installed and operated by Green Lumens and owned and funded by SparkFund, who will also power co-branded sales tools and handle customer approval.

“Offering integrated turnkey solutions through the as-a-service model is key to unlocking billions in revenue from major energy efficiency projects,” said Pier LaFarge, SparkFund Co-founder and CEO. “Perimeter Place is the first of many projects expected from our long-term partnership with Green Lumens to provide efficient lighting solutions for commercial and industrial customers across America.”

The American Council for an Energy-Efficient Economy (ACEEE) estimates private-sector entities could invest over $279 billion in efficiency technologies across the buildings sector and forecasts efficient commercial lighting improvements could reduce total U.S. electricity use 1.3 percent by 2030, while the U.S. Department of Energy expects LEDs will grow from 8 percent of commercial sector and 3 percent of industrial sector sales in 2015 to 82 percent and 87 percent of 2030 sales respectively.

Contact:

Angela Ferrante - SparkFund
+1-310-658-9779